You may ask! What's next for the major market indices as all major market indices reached record levels during the past week with the DJIA leading the way while finishing the trading week on Friday, May 17, 2024 above 40,000.00 for the first in it's history!
Where are the major market indices headed as we move further into the second quarter and further into the year, YEAR 2K PLUS TWENTY FOUR?
Will the major market indices go even higher from these record levels?
-and-
Will it be Going! Going!! Going!!!
With more Go!!!
-or-
Will it be a major market retreat from these record levels?
-and-
Will it be Going! Going!! Gone!!!
As we move further into the second quarter and into the final weeks of May we must observe the milestones of the past week and year and take relish in the success while being mindful that this 'BULL-Market' may retreat at any moment.
Although there's always that inner voice saying to be an optimist with the 'BULL-Market' we have seen there is that potential outcome of the 'BULL-Market' we have seen for several years now retreating at any moment.
Let's take a moment and see where we are with the major market indices and have a look at those levels we have been talking about for the past couple of years and see what it would take for the major market indices to ascend to reach or if you would like to say mature and blossom to such fullness.
The question you may ask is...
Will this continue?
Well we have to wait and see for at least another couple of days, weeks, months, or even years as we are facing economic conditions that can and may change at any moment.
Here's how the major market indices faired since Monday January 1, 2024.
DJIA ended trading on Friday May 17, 2024 at 40,003.59 which was 2,288.55 points or +6.07% above the close on Friday December 29, 2023, the last trading day of 2023.
S&P 500 ended trading on Friday May 17, 2024 at 5,303.27 which was 560.44 points or +11.82% above the close on Friday December 29, 2023, the last trading day of 2023.
NASDAQ Composite ended trading on Friday May 17, 2024 at 16,685.97 which was +1,920.03 points or +13.00% above the close on Friday December 29, 2023, the last trading day of 2023.
We are in a 'BULL-Market' for all three major market indices however the market can and may sway into a 'CORRECTION' at any moment with instances of high volatility (VIX) and fluctuations in the market and this is a direct reflection of various current economic or non-economic conditions, but it could however ascend even further as we move further into second quarter and into the third quarter and through to the end of this year and into next year.
Now, the question remains...
Will we see a continuation of this 'BULL-Market' for the major market indices as we move further into 2024 or will we see a 'CORRECTION' in the major market indices with the aforementioned instances of high volatility (VIX) and a possible landslide of a downward trend.
All of this will be answered in future days, weeks, months, and years!
Will this 'BULL-Market' continue as we move further into 2024 and will we see the 'FANTACY-Numbers' and 'FANTACY-Levels' mentioned late in the third quarter or early in fourth quarter of 2021 or will we see the aforementioned 'CORRECTION' and a subsequent 'BEAR-Market' with levels of the major market indices not yet reaching what was coined as 'FANTACY-Numbers' and 'FANTACY-Levels' which were not reached in the previous two years however have been getting ever closer since the beginning of this year.
Below are the 'FANTACY-Numbers' or as I described previously as 'FANTACY-Levels' along with the percentage increases necessary for attaining such a 'FANTACY'.
DJIA 'FANTACY-Level':
42,400.00 which would be an approximate +5.99% increase.
S&P 500 'FANTACY-Level':
5,800.00 which would be an approximate +9.36% increase.
NASDAQ Composite 'FANTACY-Level':
18,400.00 which would be an approximate +10.27% increase.
Below are the 'FANTACY-Numbers' or points required to meet 'FANTACY-Levels':
DJIA requires +2,396.41 points
S&P 500 requires +496.73 points
NASDAQ Composite would require a gain of +1,714.03 points
Now, if we see these 'FANTACY-Levels' reached this year or even next year that would be an utter and resounding wow or two and wouldn't that be nice or even more and more nice!
Be well and stay well! All the best...

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